|
HIGH END, HIGH PROFILE, HIGH RISE
By Susan Soper & Collin Kelley
The cranes perched high above Peachtree Road – from Brookhaven to Midtown – will be replaced before long with towers of condominiums that threaten to transform Peachtree into a walkable stretch of liveable neighborhoods much like Manhattan.
With buildings fronting right onto the street, a more pedestrian atmosphere will evolve up and down the corridor. Many of the condos are part of mixed-use developments where people will work, live and play. Others are stand-alone developments of high-rise mansions.
A.J. Robinson, president of Central Atlanta Progress, has said that over the next five years, 7,000 residential units will be completed Downtown – and that’s not counting the units to the north in Midtown, Buckhead and Brookhaven.
Scotty Greene, president of the Buckhead Community Improvement District, said that Peachtree is "exploding." "The evolution of this is what’s interesting," he said. "In 1997 there was one tower...then you had the classic Wakefield [Peachtree and West Paces Ferry] and Elton John’s building [Park Place] and the one across from The Peach [The Phoenix] and now that stretch all the way to Peachtree Battle will have more modern-day projects – the new urban ecology."
Empty nesters who are downsizing from large family homes are creating much of the demand, as are urban loft dwellers moving on up in the world. Buzzwords in most marketing materials are "unrivaled luxury" (The Mansion), "privacy," "lavish," "exclusive" and "elegant." Many mention "historic Peachtree," a "privileged lifestyle" and "proximity to shopping." Some invoke the feel of London, Paris or New York.
Regents Park at Peachtree Battle markets its development like this: "Through this truly upscale townhome experience, residents are closer to elegant shopping, private clubs and local establishments than ever before, without the burden of maintaining an estate."
What with tricky zoning, fickle financing and supply and demand in constant flux, the landscape literally changes weekly. But here’s a roundup of projects on Peachtree – most of them in the $1 million-plus range.
BELLINGRATH TOWN RESIDENCES, www.thebellingrath.com
Expected completion: Spring 2008
Developer: BOSS Properties
Address: 2640 Peachtree Road (next door to Park Place)
Stories and units: 8 four-story "town residences"
Distinguishing features: Manhattan’s Upper East Side meets London’s Mayfair district and Paris’ 7th Arrondissement
Amenities: 3-car garages, 12-foot ceilings, elevators, roof-top gardens, indoor and outdoor fireplaces, walled courtyards, libraries and wine cellars, his-and her-baths
Bottom line: From $2.5 million
To buy one call: Hugh Scott Shashy (404) 812-0960 at Jenny Pruitt
SOVEREIGN, www.sovereignbuckhead.com
Expected completion: Summer 2008
Developer: Regent Partners, LLC
Architects: Smallwood, Reynolds, Stewart, Stewart & Associates
Address: 3344 Peachtree Road, Buckhead
Stories and units: 48 stories, 99 condos
Distinguishing features: Mixed-used building, with condos starting on the 28th floor, tallest structure to be built in Atlanta since 1992.
Amenities: Residents will have their own lobby and concierge club service on the 28th level, skyline pool and spa, private climate-controlled wine room, valet parking, Buckhead Life’s new restaurant
Bottom line: Condos will start at $1 million
To buy one call: Paces Ferry Realty Group, (404) 842-4977
THE MANSION ON PEACHTREE, www.mansiononpeachtree.com
Expected completion: Winter 2008
Developer: City Center Properties LLC
Architect: Robert A.M. Stern Architects
Address: 3376 Peachtree Road (formerly the Art Institute of Atlanta)
Stories and units: 50 stories, 42 condos
Distinguishing features: 127 hotel rooms, three garden villas, a 15,000-square-foot spa and a 4,000-square-foot fitness center in an eight-sided tower
Amenities: Two restaurants
Bottom line: Condos start at $3 million
To buy one call: Dawn Mullins or Glenn Kincaid, Dorsey Alston Realty (404) 352-2010
For profiles of more condos, pick up an August edition of Atlanta INtown today!
|
